Reasons Why Car Owners Should Consider Having an Insurance for Their Car
It’s important to have car insurance since it a must by law. One may find themselves against the law when their car insurance is invalid. A car insurance provides compensation to a third-party when their bodily injury or death is caused. A third party insurance provides security to family members and yourself when driving your car. You’re protected from man-made or natural calamities such as cyclone, earthquake, hurricane, riots, terror attack, and theft and also third-party damages or claims, comprehensive car insurance gives protection to all. It may be difficult and confusing to understand car insurance. It’s important for buyers to understand certain guidelines that should be followed when choosing a car insurance policy. In times of crisis, a car insurance act as a good friend. You protect yourself from paying large sums of money that would be needed to cover losses in case of an accident. The following are the benefits of having a car insurance policy.
Total losses are covered by a car insurance policy. It assists in covering you from total losses. An insurance cover protects you from the total loss of your car. Your car may not be recovered after getting stolen. When you lose your car and never to find it again, it may have been cannibalized for parts or driven to another country. The aim of some thieves may be to strip the car and sell its spares since they are very lucrative. After an accident, your car may possibly be written off. When there is 50% of the sum assured exiting due to the total cost of repair, the car is written off. Writing off such cars is what most insurance companies prefer other than repairing them. Total loss of a car happens when a car is involved in a fire accident, and it’s completely burnt. Your claims will be settled by an insurance company in such a case thus giving you a new car.
You are covered from car parts left. Thieves will take your car to steal its parts. Thieves may leave your car intact but take away key components from it. Spare parts market is very lucrative in most countries. Your car will be stripped fully by thieves so that they get rid of things such as wheels, tail lamps, car stereos, and headlamps so as to sell them in the black market. When you have an insurance cover, you can make claims after such an incident, and the company will compensate for the loss.
Accident damages will not be compensated by you. You’re assured that money will not be spent when you have insurance in case of accident damages. When your car is involved in an accident and damage occurs, the insurance company picks up the tabs and ensure necessary repairs are made to your car.